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since 1994, america has accumulated a $10 trillion trade deficit. >> and hats off to leo gerard and the steel workers for fighting those cheater and winning at the international level. keep up the fight. >> all right. gentlemen, great to have you with us tonight. thanks for your time on "the ed show." appreciate it. remember to answer tonight's question at the bottom of the screen. share your thoughts on twitter at ed show and on facebook. we always like to know what you think. >>> coming up, a colorful depiction of tea party senator, ted cruz. >>> plus, conservative media adds fuel to its anti obama care fire. stay with us. [ male announcer ] this duracell truck has some very special power. ♪ [ toys chattering ] it's filled with new duracell quantum batteries. [ toy meows ] [ dog whines ] [ toy meows ] these red batteries are so powerful... that this year they'll power all the hasbro toys donated to toys for tots. want to help power some smiles? duracell. trusted everywhere. every day we're working to wand to keep our commitments.s? and we've made a big commitment to america. bp supp
since 1994, america has accumulated a $10 trillion trade deficit. >> and hats off to leo gerard and the steel workers for fighting those cheater and winning at the international level. keep up the fight. >> all right. gentlemen, great to have you with us tonight. thanks for your time on "the ed show." appreciate it. remember to answer tonight's question at the bottom of the screen. share your thoughts on twitter at ed show and on facebook. we always like to know what you...
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Dec 4, 2013
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you might remember him from the big deficit reduction in 2010. he was part of that and he killed it. he was part of that ena he killed it. he was about part of the grand bargain in 2011 which was killed by paul ryan. so yes, patty murray and paul ryan are reportedly close to a deal that would kill the sequester, get us a budget, and all sorts of reasonable things that everybody in washington says they want. paul ryan's history of working on deals like this is he likes to be seen working on them before he breaks free and calls them impure and kills what he helped to negotiate. i'm not getting excited about this yet. initial reports are positive, long term prospects are dim. even the babiest of babe steps are steps. in a year like this one, a congress like this one, the most meager signs of progress must be nurtured. urpassed craftsmanship at the lexus december to remember sales event. some of the best offers of the year. this is the pursuit of perfection. the day building a play set begins with a surprise twinge of back pain... and a choice. take
you might remember him from the big deficit reduction in 2010. he was part of that and he killed it. he was part of that ena he killed it. he was about part of the grand bargain in 2011 which was killed by paul ryan. so yes, patty murray and paul ryan are reportedly close to a deal that would kill the sequester, get us a budget, and all sorts of reasonable things that everybody in washington says they want. paul ryan's history of working on deals like this is he likes to be seen working on them...
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Dec 4, 2013
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we have a $100 trillion deficit. this was before obama care. it took money from medicare which is already broke and then added a bunch of new people to medicaid as luis said. the states to have pick up the costs and the states like my state of california and illinois, they're both broke already. >> the states have to pick up 10% of the costs in a few years of medicaid. i mean interesting federal government is paying most of it. >> up front. part of the reason why the administration now has delayed the enrollment. they say they and paneleded it until after the 2014 elections. next year people will pay much higher prices than this year. so i think long term, we submitted a plan. the president talks about a plan that he is open to plans women submitted a plan. myself, paul ryan, senator co-bush, we introduced a bill before it was introduced. >> one of the things that i think is pretty cool about this booking, i'm not just saying this. you are two of the most candid people on capitol hill and that says a lot. a lot of candid people up there. so let
we have a $100 trillion deficit. this was before obama care. it took money from medicare which is already broke and then added a bunch of new people to medicaid as luis said. the states to have pick up the costs and the states like my state of california and illinois, they're both broke already. >> the states have to pick up 10% of the costs in a few years of medicaid. i mean interesting federal government is paying most of it. >> up front. part of the reason why the administration...
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our next guest, oklahoma attorney general says if the challenge is successful, deficit spending could be reduced by $700 billion in the next decade he's here to explain it. oklahoma attorney general, scott pruitt. mr. attorney general, can you breakdown the law for us? >> good evening, sean. one of the things have you to recognize when congress pass add fordable care act, they recognized importance of the states in rolling out exchanges we see y they've not done a good job of it and knew they cannot commandeer or require the state to impose changes. the subsidy goes you through health care exchanges. 34 states came in and said no, irs said we'll fix that and says subsidies with exchanges. so our lawsuit is making sure the letter of the law is complied with >> but the law didn't say. that the law, in other words gave you the option, did it not? didn't say there would be penalties? >> right if there is no state health care insurance exchanges there are no subsidies. if there are no subsidies there are no penalties now, irs saying we're going assess the penalties whether state exchanges
our next guest, oklahoma attorney general says if the challenge is successful, deficit spending could be reduced by $700 billion in the next decade he's here to explain it. oklahoma attorney general, scott pruitt. mr. attorney general, can you breakdown the law for us? >> good evening, sean. one of the things have you to recognize when congress pass add fordable care act, they recognized importance of the states in rolling out exchanges we see y they've not done a good job of it and knew...
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Dec 4, 2013
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fiscally i don't know how they come up with something that wouldn't look like it would explode the deficit, that wouldn't look like it was going to expand government to basically abide by what boehner just said there, the cost could potentially be astronomical in some places. now, it could end up being that the president's health care law ends up costing a lot more than the experts have said, but for right now the best people we got, the congressional budget office insists it's not going to be that costly. it's hard for republicans to come up with something that will be as fiscally neutral and responsible as the law as it is written right now that the president has. >> it was like the speaker saying holding up four candy canes saying like all these? i'll give them to you. thank you chuck todd and clarence page. >>> up next, what's the explanation for this star wars inspired scene on the national mall here in washington? the sideshow's next. and this is "hardball," the place for politics. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile pr
fiscally i don't know how they come up with something that wouldn't look like it would explode the deficit, that wouldn't look like it was going to expand government to basically abide by what boehner just said there, the cost could potentially be astronomical in some places. now, it could end up being that the president's health care law ends up costing a lot more than the experts have said, but for right now the best people we got, the congressional budget office insists it's not going to be...
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Dec 6, 2013
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they have a big current account deficit. if and when we see a beg effect on tapering, we may see them suffer. >> violence with the mines. this is a nation that has a lot of questions open. >> absolutely. he didn't solve everything but certainly i think things could have been far worse. >> and also the metamorphosis just as gorbachev was changing the world as well. >> he shifted in four years. the castro bothers, 50 years, they still haven't. >> it's nice seeing you down here. >> you, too. >> as massive ice storm is moving across the country bringing freezing rain, snow, sleet and jim cantore joins us. >> reporter: thank you very much. normally in the east the sun comes back up and it warms up and everything melts. unfortunately it's only going to get colder. this morning we started out at 30 degrees and now it's all frozen and the same this evening is happening on the road. you'll notice the cake and the glaze, you have to pry this off. the salt and sand trucks are dealing with the main there owe fair -- thoroughfares. but m
they have a big current account deficit. if and when we see a beg effect on tapering, we may see them suffer. >> violence with the mines. this is a nation that has a lot of questions open. >> absolutely. he didn't solve everything but certainly i think things could have been far worse. >> and also the metamorphosis just as gorbachev was changing the world as well. >> he shifted in four years. the castro bothers, 50 years, they still haven't. >> it's nice seeing you...
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october trade balance is a deficit of 40.6 billion. extremely close to expectations. last month ramped up a bigger red tape from originally released 41.8 to 43 billion. how does 46 fit in? not going to change the recent range. august 38 and change and been as high this year in the 43 area just like the revision last month. it still isn't negative news. foreign exchange is going to be a big gi. japanese will reintroduce a new r generation. watch the currency as we strengthen exports. it's going to be a big issue along with european banks next year. >> thank you rick. see you later buddy. >> see you later joe. >>> the the brightest minds leading to charge the disrupt, innovate, reimagine the way we learn. our next guest gave up tenor. he found google x. thank you for being here today. >> it's great. >> let's talk about how you struck out from stanford on your own to start this project. you were tenor there, had a great gig. you did an experiment in 2011 you put a class online, offered artificial intelligence. who showed up to do that class? >> we sent e-mail this class
october trade balance is a deficit of 40.6 billion. extremely close to expectations. last month ramped up a bigger red tape from originally released 41.8 to 43 billion. how does 46 fit in? not going to change the recent range. august 38 and change and been as high this year in the 43 area just like the revision last month. it still isn't negative news. foreign exchange is going to be a big gi. japanese will reintroduce a new r generation. watch the currency as we strengthen exports. it's going...
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account deficits even when commodity prices were at their peak. and it's pretty clear that chinese growth is growing. it shifted away from the heavy commodities driven industries. there's a lot of investment over the last couple of years, pushing up gdp, and they're all looking to find a way to replace the stimulus that they've had from that commodities sector, from its growth, and that's going to be hard to find. weakening the currency is the most obvious path to follow and they're all doing it. i think in g-10 it's done as a o policy tool. >> traders on g-10 today with the u.s. nonfarm payrolls coming out, steven england, i'm going to ask you about that in just a bit. >>> now we're shaping up in equity markets, ahead of that all-important jobs number out of the states, so far we've got a market that is moving higher, 0.4% firmer is the early picture. the german market has been strong today. you're seeing selling across on the periphery. you can see the state of play. you can see the xetra dox nax n 0.6% higher. it is gaining pace through wrought
account deficits even when commodity prices were at their peak. and it's pretty clear that chinese growth is growing. it shifted away from the heavy commodities driven industries. there's a lot of investment over the last couple of years, pushing up gdp, and they're all looking to find a way to replace the stimulus that they've had from that commodities sector, from its growth, and that's going to be hard to find. weakening the currency is the most obvious path to follow and they're all doing...
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reduction, maybe $20 billion of deficit reduction, but we're not at the goal line yet. members have been meeting, their staff has been meeting. a lot of members have gone to south africa for the mandela funeral as president obama and president bush did. you have the snow day in washington where because of that relatively modest snowstorm by the standards of many people in the midwest and other parts that get a lot of snow, it nevertheless shut down the federal government. talks are going on. we're in a last-minute posturing phase where republicans are saying you've got to have this amount of deficit reduction in order for us to agree to the deal and democrats are saying, including people like steny hoyer saying you can't take as much out of retirement as you're going to take. i do think it will get done. they had originally planned to announce the deal today and vote on it on thursday. i think that time frame could slip a little bit, at least on the announcement part. we'll see whether they can get it done by the end of the week and go home and tell their constituents t
reduction, maybe $20 billion of deficit reduction, but we're not at the goal line yet. members have been meeting, their staff has been meeting. a lot of members have gone to south africa for the mandela funeral as president obama and president bush did. you have the snow day in washington where because of that relatively modest snowstorm by the standards of many people in the midwest and other parts that get a lot of snow, it nevertheless shut down the federal government. talks are going on....
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does not decrease the deficit. offset by additional revenue and budget cuts. they would not be tax increases and not cuts to medicare and social security or agriculture program but much more mundane things like fees and asset sales and cushing federal retirement, all ways in which the congress hopes it can avoid a shutdown in january and get us back into more stable budgeting environment. >> when is a fee a fee and a tax a tax. john harwood will explore that in the days ahead. >>> we've heard from fast woodworkers, economists on the debate. today an industry executive to tell us what it will really mean for his business. joining me, jamie richardson, vice president of white castle. thank you for being here. >> good to be with you, kelly. >> you say if we raise the minimum wage, president says from $7.25 an hour to, perhaps, $10 an hour. what the direct effect on white castle? >> groups pleading to raise the minimum wage to $15 an hour. to more than double the mandated minimum wage, it would be catastrophic for white castle, our team members and neighborhoods.
does not decrease the deficit. offset by additional revenue and budget cuts. they would not be tax increases and not cuts to medicare and social security or agriculture program but much more mundane things like fees and asset sales and cushing federal retirement, all ways in which the congress hopes it can avoid a shutdown in january and get us back into more stable budgeting environment. >> when is a fee a fee and a tax a tax. john harwood will explore that in the days ahead....
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because the deficits are coming down. because of the sequester they all want to get rid of. yeah, it really -- we start to go so far down the rabbit hole i need a pole to get some air down here. >> you need some air. get that guy a glass of water, quick. jim lowell, what are you doing to put money to work right now? >> let me give rick santelli a little bit of air. as a bow tie wearing yankee i'm used to being the skeptic in the room. i'm not worried at all. the u.s. consumer is in good shape. consumers across the pond, in the eurozone -- >> yeah, consumption and gdp was just off the charts, wasn't it? >> it was okay, rick. it's been okay -- >> okay is much different than good. >> grading on a curve. >> as long as that continues for real world investors and for my clients, we've been able to make significant gains. i certainly am not surprised by the pullback in the market. look, after heapings of gains it's only natural the market takes a little bit of a diet. the reality is going forward large cap, multinational blue chip, balance sheets look great. >> why doesn't the fed
because the deficits are coming down. because of the sequester they all want to get rid of. yeah, it really -- we start to go so far down the rabbit hole i need a pole to get some air down here. >> you need some air. get that guy a glass of water, quick. jim lowell, what are you doing to put money to work right now? >> let me give rick santelli a little bit of air. as a bow tie wearing yankee i'm used to being the skeptic in the room. i'm not worried at all. the u.s. consumer is in...
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$100 million in new savings, it would be a mix of fee revenues and pension cuts to help reduce the deficit, help ease the sequester. from reading the take the journal has, they're pretty close. there's some issues remaining, but it could come as early as next week. we still have people coming in and talking about -- >> you've read that headline before, joe. down to the last most difficult item. >> these are small items, though. we're not trying to do anything. i think both sides, we're agreeing to disagree. this would put us past the next election. we will be through another election to see -- you know, to get another chance to vote on it. >> yeah. >> in wall street news, reports say eddie lampert is facing an exodus to his hedge fund. lampert has reduced the reduction technique before. we should point out that just this morning, the news has become officials. lands' end, that spin-off that we've been talking about from some time for sears holding, it, look like the board needs to make a final stage, but sears holding has filed this registration statement saying it is looking to go ahead a
$100 million in new savings, it would be a mix of fee revenues and pension cuts to help reduce the deficit, help ease the sequester. from reading the take the journal has, they're pretty close. there's some issues remaining, but it could come as early as next week. we still have people coming in and talking about -- >> you've read that headline before, joe. down to the last most difficult item. >> these are small items, though. we're not trying to do anything. i think both sides,...
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. >> if you had that deficit of caloric intake. >> we have a camera. >> stop. >> wow. >> they're solving your first world problems, there you go. >> another issue you've been looking at is educational disruption. we've been talking about that, where do you think the winners are? >> that was on camera. is that my age or iq? >> i'm terrified of buying the ulta vista of this. the entrenched -- all the reasons that this part of the economy has failed to adapt are mostly still in place. . i think it'll take a while to unwind and fix itself. we haven't put our bets down on that trend but it's going to be big, it has to be. >> what has to happen before you'll put money on the table for this? >> you know, a lot of people say there's not a lot of money in that because they're college students. come on, that's b.s., budweiser makes a lot of money. we find someone who is making money. >> i think you look good. i do. >> -- a revision to the third quarter gdp. rick santelli standing by in chicago. take it away. >> all right. our second look at third quarter gdp is off the charts out of expectation ra
. >> if you had that deficit of caloric intake. >> we have a camera. >> stop. >> wow. >> they're solving your first world problems, there you go. >> another issue you've been looking at is educational disruption. we've been talking about that, where do you think the winners are? >> that was on camera. is that my age or iq? >> i'm terrified of buying the ulta vista of this. the entrenched -- all the reasons that this part of the economy has failed...
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we have all budget surplus, i walked in with a budget deficit, i now have a $1.2 billion surplus. we're making our economy the opportunity economy where, you know, if you want to build a business, you can -- and you want to get a job, you come to florida. >> your unemployment rate has dropped quicker than any other state, i know that. and you're now -- >> 6.7 -- >> which is below, we got down to -- >> 7%. >> i don't know, yeah. anyway, you're at 6.7%, were you higher? i would think you'd always be below. >> unemployment went from 3.5% to 11.1%. >> where was the national average? >> 9%. >> never got above -- >> i think it was nine when i came -- >> maybe ten. >> i think it was nine when i came in. in the month of october, we generated private sector jobs, my good friend governor perry, only had 12,000 jobs. >> oh, you two guys go at each other. i see that a lot. that's a great rivalry. almost like a football -- >> he was number one. what do you want to be? i want to be number one. so i go after number one. >> what's the minimum wage? >> it's $7.67. >> is that a way to help with dis
we have all budget surplus, i walked in with a budget deficit, i now have a $1.2 billion surplus. we're making our economy the opportunity economy where, you know, if you want to build a business, you can -- and you want to get a job, you come to florida. >> your unemployment rate has dropped quicker than any other state, i know that. and you're now -- >> 6.7 -- >> which is below, we got down to -- >> 7%. >> i don't know, yeah. anyway, you're at 6.7%, were you...
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but it wouldn't have much deficit reduction. it would not go after any of the hot button items like social security or medicare, which need to be dealt with over the long-run. it wouldn't close any tax loopholes. those things have proven too partisan for these budget negotiators to tackle. yesterday, in the nfl, the kicker for the denver broncos made a 64-yard field goal. record for the nfl. this is more like a 6-yard field goal. they haven't kicked it yet. i do think they will before congress goes home. it is a minimum achievement for people to cheer about. >> john, it is interesting when you talk about some of the little sticking points here. one is the benefits for the long-term unemployed. that is making up a record percentage of the people in this country who are unemployed. do you get the sense that congress is looking at the jobs report and saying, hey, maybe we shouldn't move the needle on that right now? >> i think that is difficult in part, because when you look at the size of this deal, we are only talking about $90 b
but it wouldn't have much deficit reduction. it would not go after any of the hot button items like social security or medicare, which need to be dealt with over the long-run. it wouldn't close any tax loopholes. those things have proven too partisan for these budget negotiators to tackle. yesterday, in the nfl, the kicker for the denver broncos made a 64-yard field goal. record for the nfl. this is more like a 6-yard field goal. they haven't kicked it yet. i do think they will before congress...